Kosmos Energy Establishes New Exploration Positions in Porcupine Basin, Offshore Ireland

Kosmos Energy Ltd. (“Kosmos”)

announced today that it has entered into two farm-in agreements, whereby Kosmos is acquiring an interest in multiple blocks in the prospective Porcupine Basin, offshore the west coast of Ireland. The farm-in agreements were executed with Antrim Energy Inc. (“Antrim”) covering Licensing Option 11/5 and with Europa Oil & Gas (Holdings) plc (“Europa”) covering Licensing Options 11/7 and 11/8. Per the agreement with Antrim, Kosmos is acquiring a 75 percent participating interest and operatorship in the approximately 1,410 square kilometer Licensing Option 11/5 in exchange for carrying the full costs of a planned 3D seismic program on the block. In addition, the Company will reimburse Antrim for a portion of previously-incurred exploration costs. Kosmos is also acquiring an 85 percent participating interest and operatorship in Licensing Options 11/7 and 11/8, an area totaling 2,000 square kilometers, in a separate agreement with Europa. According to terms of the agreement, Kosmos will fully fund a planned 3D seismic program on each block and will reimburse Europa for a portion of its previously-incurred exploration costs. Contingent upon an election by Kosmos and Europa to enter into a subsequent exploration drilling phase on one or both of the blocks, Kosmos will also fund 100 percent of the costs of the first exploration well on each block, subject to an investment cap. The per-well investment cap for the first well is $90 million on Licensing Option 11/7 and $110 million on Licensing Option 11/8.